Legal Question in Wills and Trusts in California

Trusts for unknown future beneficiaries are not necessarily difficult or complicated, but there are somewhat arcane rules that govern them, and there are generation skipping tax consequences. I strongly suggest having an experienced estate planning attorney help you, and make sure they have experience with generation skipping as well as vesting rules for future interests.

Retain a qualified estate planning attorney with knowledge of income, estate and gift tax consequences of irrevocable trusts. Otherwise, the end result may not accomplish your goal and will likely have unintended or undesirable economic or tax effects.

You may be wanting what some call a "dynasty trust." This should be part of a comprehensive estate plan. I recommend that you contact an experienced attorney in your area. If I can be of assistance, please do not hesitate to contact me.

Sincerely,

Kai H. Wessels, Esq.

You do need to speak to an experienced estate planning attorney. It does sound as though you are looking to establish a dynasty trust or other generation skipping trust. As the other attorneys have said, such trusts are not particualy difficult but must be properly drawn to avoid any tax or distribution issues.